Tag Archives: 10%…40%… Now An 80% Confiscation Scheme?

ZeroHedge – 10%…40%… Now An 80% Confiscation Scheme? – 29 March 2013

ZeroHedgeThe news coming out of Cyprus only gets worse.

It was bad enough that the political class even promoted the idea of STEALING depositors’ savings. But now we’re finding out that they lied time and again about how much they’d take.

CypresflagInitially the plan in Cyprus was the following:

  • Simply TAKING 6.75% of ALL savings accounts up to the official insurance limit of €100,000
  • A 9.9% levy (THEFT) on all deposits above the official insurance limit of €100,000. Continue reading